If you become a business owner or a sole proprietor in Portugal, you will have the right to obtain residence permits for the whole family and live in a well-developed European country for quite a long time.
Later on, you may even be entitled to citizenship by naturalization, which is quite a viable (and affordable) way of obtaining an EU passport. However, there are several conditions you will have to fulfill in order to qualify.
If you are interested in obtaining a Portuguese entrepreneur’s visa (also known as a D2 visa, which is in fact a residence permit) for yourself or the whole family, welcome to our portal where you can read more detailed information on the entrepreneur’s visa in Portugal. You will find a lot of articles about Portuguese opportunities as this is a popular destination and one of the few viable options for obtaining an EU passport (Malta, for instance, will require a considerably larger amount).
We also provide qualified help to entrepreneurs and individuals who want to start a business abroad, open a foreign bank account, make profitable investments, buy real estate, or obtain residence or citizenship by investment. You can book a free initial session where we will discuss all the details of your situation with you and help you with the choice. You can also delegate all the administrative steps to us at a reasonable fee and focus on your business instead. There are many foreign investors who come every year, some of them being US citizens who choose to move to Portugal for doing business.
Entrepreneur’s Visa: Overview
D2 is a Portuguese visa that is issued to non-residents who start a company in Portugal or acquire the status of a sole proprietor. You will get an initial residence permit for 2 years. Upon expiration of this term, it may be extended for 3 more years. If you have lived in Portugal for 5 years in total, you can apply for permanent residence and an EU passport.
The following persons qualify for D2 Visa in Portugal in 2023:
- Entrepreneurs that start new companies in Portugal, including in Madeira
- Foreigners that buy a ready-to-use company in the country
- Sole proprietors
- Non-residents that set up a subsidiary of a foreign company in the territory of Portugal
- Primary applicant’s dependents under the family reunification program
In addition to D2, Portugal also offers the Investor’s Golden Visa and D7 Visa for business people. However, D2 is different as it has minimum investment requirements. If you want to obtain a residence permit, though, you will have to prove that you have enough money to live in the country and carry out your business activities for a year.
If you don’t have a Schengen visa, you cannot enter Portugal to start your business and make all the arrangements to bring your family there. In this case, you can get a preliminary D2 Visa that is provided for 4 months. This is the time during which you will have to enter the country, collect a package of documents, and apply for a local residence permit.
Contact our experts for help with obtaining a Schengen visa or a D2 preliminary visa.
Portuguese Residence Permit: Benefits
Why migrate to Portugal? Let’s see what you can actually get by obtaining a local residence permit:
- You will have the right to live in a safe EU country with a well-developed economy and freely move to other EU states.
- You will have an opportunity to carry out business in Portugal and take advantage of good tax incentives in the Azores or Madeira.
- If you reside in Portugal for five years, you will have an opportunity to apply for European citizenship.
- Under the D2 Visa, the main applicant can include all family members in the application who are financially dependent on him/her.
- You will be able to take advantage of a preferential tax regime provided to Non-Habitual Residents (NHR). The NHR program is available to those who have not been tax residents in Portugal for the past five years. The second condition: they should not be citizens of the EU or Switzerland. The NHR program is valid for 10 years and it gives tax relief with regard to income tax, rent tax, pension tax, and other payments.
- Residence permit holders have the right to take advantage of the local healthcare institutions, free or paid education, and the European market.
Obtaining a D2 Visa: Requirements
Here are the steps an entrepreneur will have to take to obtain a residence permit:
- Provide proof of owned or rented accommodation in Portugal.
- Launch an undertaking in Portugal by incorporating a company, buying a ready-to-use business, or starting a subsidiary.
- Provide proof of sufficient income received from business activities.
- Provide proof of possessing enough subsistence funds for all potential residence permit holders (main applicant and dependents).
- Submit an application along with a package of required documents.
D2 Visa: Application Procedure
Here is the procedure for obtaining a Portuguese residence permit with the help of our specialists:
- Book a free session with our expert to discuss all the details: the services you need us to provide, the region of Portugal you would like to live in, the number of dependents you will include in the application, the business form you are going to use, the bank that will provide services to you, and so on.
- Pay our invoice in any way you will find convenient (crypto, digital bank, ordinary bank transfer, and so on).
- Prepare the documents (you may need to translate and legalize/notarize them).
- Rent/purchase accommodation to prove to the local authorities that you have a place to live.
- We will set up a company for you (a limited liability company or a joint-stock company) or register you as a sole proprietor on a turnkey basis.
- You will submit an application for a residence permit and obtain the document from the local authorities (SEF).
The Portuguese residence permit has become very popular in 2023, and there is a long queue. As a result, the processing time takes a year or more. Don’t worry, though: if you start the procedure, you will be allowed to live in the country for as long as it lasts!
Tax Benefits for Entrepreneurs in Portugal
Portugal is known for its picturesque landscapes, rich culture, and favorable tax regime for entrepreneurs. Registering a company in Portugal can benefit from various tax incentives, especially if you decide to set up your business in regions like the Azores or Madeira. These regions offer significant tax reductions for corporations, promoting economic growth and attracting foreign investors.
Digital Nomads and Startups in Portugal
In recent years, Portugal has become a hub for digital nomads and startups. The country offers a supportive ecosystem for young entrepreneurs and tech-savvy individuals. With the rise of remote work, Portugal has introduced specific visa programs catering to digital nomads, allowing them to live and work in the country while benefiting from its advanced infrastructure and vibrant startup scene.
Banking and Financial Services for Entrepreneurs
Opening a bank account in Portugal is a straightforward process for entrepreneurs. The country boasts a robust banking system with numerous national and international banks offering various financial services tailored to business needs. From online banking to investment advice, entrepreneurs can easily manage their finances and ensure the smooth operation of their businesses.
Legal Framework and Support
Portugal provides a comprehensive legal framework for businesses, ensuring entrepreneurs have all the necessary tools and resources. From registering a company to understanding labor laws, the country offers various platforms and services to assist entrepreneurs in navigating the legal landscape. Moreover, numerous consultancy firms and legal experts specializing in business law are ready to guide newcomers through the intricacies of Portuguese regulations.
Networking and Business Opportunities
The entrepreneurial spirit is alive and well in Portugal. The country hosts numerous business events, conferences, and workshops throughout the year, providing ample opportunities for networking and collaboration. Entrepreneurs can connect with like-minded individuals, share ideas, and find potential business partners or investors. Portugal’s commitment to fostering a dynamic business environment is evident in its continuous efforts to support and nurture its entrepreneurial community.
Conclusion
I’ve delved into registering a company in Portugal and obtaining an entrepreneur’s visa. This European nation offers many opportunities for business owners and sole proprietors, granting them residence permits and potential citizenship by naturalization. The D2 visa, or the entrepreneur’s visa, is a popular choice for many, with precise requirements and benefits. Portugal’s tax benefits, thriving startup scene, robust banking system, comprehensive legal framework, and vibrant networking opportunities make it an attractive destination for entrepreneurs worldwide.
Please follow the above link to see the list of personal and corporate documents you must submit to obtain a residence permit in Portugal. If you have questions, do not hesitate to use our live chat or book a session. Make your first step towards European citizenship today!
Frequently Asked Questions
How do I get an entrepreneur visa in Portugal?
You must start a business or acquire sole proprietor status to obtain an entrepreneur visa in Portugal. You must also provide proof of accommodation and sufficient income and submit the required documents for the application.
Can I get a visa if I start a business?
Yes, starting a business in Portugal can qualify you for the D2 entrepreneur visa, granting you residence there.
Can a non-resident open a company in Portugal?
Non-residents can open a company in Portugal and are eligible for the D2 entrepreneur visa.
Can an American start a business in Portugal?
Americans can start a business in Portugal and apply for an entrepreneur visa.
What are the tax benefits for businesses in Portugal?
Portugal offers various tax incentives, especially in regions like the Azores or Madeira, which provide significant tax reductions for businesses.
How friendly is Portugal for digital nomads?
Portugal is increasingly becoming a hub for digital nomads, offering visa programs and a supportive ecosystem tailored to their needs.
Is it easy to open a bank account in Portugal as an entrepreneur?
Yes, opening a bank account in Portugal is straightforward, with many banks offering services tailored to business needs.
What legal support can entrepreneurs expect in Portugal?
Portugal provides a comprehensive legal framework for businesses, with various platforms and services to assist entrepreneurs in navigating the legal landscape.
How can I network with other entrepreneurs in Portugal?
Portugal hosts numerous business events, conferences, and workshops, providing ample opportunities for networking and collaboration.
Are there any specific regions in Portugal that are exceedingly business-friendly?
Regions like the Azores or Madeira are known for their tax incentives and are particularly attractive for businesses.
